Reasons behind the N179/litre fuel price

A file revealing the prices of one of the most used crude oil product in Nigeria, popularly called petrol, in numerous parts of Nigeria has caused a lot of confusion amongst petrol buyers as the Federal Government has turned deaf ears about the issue on Tuesday

However, some workers in the oil sector (downstream) has alleged that the petrol prices were accepted by Federal government, many others tackled the claims on the decision that the document had yet to be signed officially by the FG.

‘The Federal Government of Nigeria is possibly to be using the document situation to check the response of the entire public towards the official increase in petrol price.

The document states that, “The petroleum Pump Price Amendment,” termed the Federal government’s approved N165 per litre price of petrol as the “former price,” as it went on to draft the new rates for the product in different parts of the country.

For the North-West, South-West, North-East and South-South region of the country, it is stated that the new PMS pump prices per litre in these areas to be N184, N179, N189, and N179 respectively with immediate effect.

The current pump prices of the product per litre in the North-Central, South-East, Abuja and Lagos were changed to N179, N184, N174 and N169 respectively.

“Hence, it is not just that the document has not been approved yet, but, selling the commodity on different amounts actually came from the NMDPRA, it was not from them (NMDPRA), but it is reality in disguise, maybe the Federal government of Nigeria is using the situation to test grounds, to know exactly how the entire public will react.”

The controller that stabilizes the ‘petroleum product’ prices in Nigeria (The NMDPRA), has stayed silent for about a month now, as concerning the increase in the cost of petrol. It has also been unsuccessful to tackle filling stations selling the product (petrol) above the Federal government-approved N165 per litre price.